June’s HSBC Manufacturing PMI fell to 54.5, signaling slower expansion and potential pressure on the Indian Rupee.
India’s HSBC Manufacturing Purchasing Managers’ Index declined to 54.5 in June from 55.0 in May, reflecting a modest slowdown in factory activity. The reading, compiled by S&P Global and HSBC, remains above the 50-mark that separates expansion from contraction but indicates softer growth momentum.
The May print of 55.0 had marked a three-month high, while June’s figure aligns with the 12-month average of 54.4. New orders and output continued to rise, though at a slightly slower pace, while input cost inflation accelerated.
Markets may interpret the data as a sign of cooling demand, potentially weighing on the Indian Rupee and influencing expectations for monetary policy.